Investments worth billions of dinars are expected to be pumped into Bahrain as the government works on easing regulations on setting up businesses in the kingdom.

Information Affairs Minister Isa Al Hammadi said urban development in the country was experiencing a major boost as 971 building permits for investment projects had been issued last year - 42 per cent of which were for multi-storey investment projects, reported the Gulf Daily News (GDN), our sister publication.

He was speaking at a press conference following yesterday's (March 2) weekly Cabinet session, where Works, Municipalities and Urban Planning Affairs Minister Essam Khalaf submitted a report on the permits issued during 2014.

The municipal authorities issued a total of 9,203 public construction permits, providing an additional 5.6 million sq m for trade, administrative and investment outlets.

“The government is working to improve the infrastructure and urban planning to allow the set-up of investments with ease over the next few years,” said Al Hammadi, who is also the official government spokesman.

“We want to give the private sector a bigger role in the development of the country and the time when the government did everything is over.

“As announced earlier, we are looking to have investments worth $22 billion in various sectors whether financial, industrial, tourism or services.

“There is a capacity for more as we work to help ease the setting up of businesses and we have our own projects to support what comes next.”

The upcoming investment projects include the Bahrain International Airport modernisation project, the development of Al Jazair Beach, investment projects in Durrat Al Bahrain, expansion of Alba's smelter, and the expansion project being carried out by Bapco.

Meanwhile, Al Hammadi said the government was in the final stages of negotiations with MPs and Shura Council members on the national budget for this year and the next.

“The price tag for the oil barrel on which the budget will be calculated will then be determined, and a complete draft with figures prepared,” he added.

“Again, a lot of the projects will be planned by the government but given to the private sector for implementation, which will ensure that our spending gets directed into other areas of benefit to the public.”

Al Hammadi also said that ministers have been directed by the Cabinet to open their doors to the public.

“Ministers are already meeting MPs, municipal councillors and Capital Trustees Board members, but our aim now is to have direct contact with the public,” he explained.

“Some ministers have monthly majlises, which is good but not enough, and there has to be more open channels of communication with people.”

Meanwhile, four stalled projects were referred to the ministerial committee for reconstruction and infrastructure. The panel will study the projects and submit an inventory of their debts, commitments and rights, Cabinet secretary-general Dr Yasser bin Essa Al Nasser said.

GCC-made products will have the priority in prices by 10 per cent compared with similar goods imported from foreign countries, Dr Al Nasser said.

The measure is in line with unified regulations to give priority to GCC member states for government's purchases. - TradeArabia News Service